Reference no: EM132958378
A portion of a company's inventory is shown below:
Sales $350,000
Cost of Goods Sold:
Beginning Inventory $ 15,000
Purchases 250,000
Cost of Goods Available for Sale 265,000
Less: Ending Inventory 13,000
Cost of Goods Sold 252,000
Gross Profit $ 98,000
Problem 1: What type of company is illustrated?
A. Service Corporation
B. Merchandising Corporation
C. Manufacturing Corporation
D. Not-for-profit Corporation
Problem 2: Which of the following is NOT a value chain activity?
A. Research & Development
B. Production
C. Distribution
D. Quality Control